IMF Boss Visits CAR, Uganda, Mauritius

By Adedapo Adesanya President Bola Tinubu has been charged by the Socio-Economic Rights and Accountability Project (SERAP) to investigate the allegations that over $15 billion of oil revenues and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI). In the letter dated September 23 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation urged him to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as

By Dipo Olowookere The leadership uncertainty in the Central Bank of Nigeria (CBN), which some observers have said led to the indefinite postponement of the Monetary Policy Committee (MPC) meeting, further put investors off at the local equity market on Friday. Yesterday, the central bank said the person chosen by President Bola Tinubu to head the organisation, Mr Yemi Cardoso, has resumed in an acting capacity replacing the former acting CBN chief, Mr Folashodun Shonubi. Mr Shonubi was appointed by Mr Tinubu to take over from Mr Godwin Emefiele, who was suspended from office and was said to have resigned

By Adedapo Adesanya The duo of NASD Plc and Aradel Holdings Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.04 per cent on Thursday, September 21. The two price losers overpowered the sole price gainer, Central Securities Clearing Systems (CSCS) Plc, to drag down the NASD Unlisted Securities Index (NSI) by 0.34 points to 805.95 points from the 806.29 points it ended in the previous day, while the total value of the unlisted stock market was relatively flat at N1.139 trillion. At the trading day, NASD Plc shed N1.15 to end the session at N11.50 per unit versus the

By Modupe Gbadeyanka Nigeria’s Ministry of Health has allayed fears of Nigerians concerning a recent court judgement directing the National Agency for Food and Drug Administration and Control (NAFDAC) to mandate the Nigeria Bottling Company (NBC) to put a warning on bottles of Fanta and Sprite for consumers to know that taking either brand of drink with Vitamin C was dangerous. Business Post gathered that the Minister of Health, Prof Isaac Adewole, recently summoned a meeting of the Department of Food and Drug Services, Federal Ministry of Health, NAFDAC and Standards Organisation of Nigeria (SON) to address the issue. At

By Adedapo Adesanya The Independent Corrupt Practices and other related offences Commission (ICPC) has called on the leaders of the Economic Community of Western African States (ECOWAS) to fashion and pursue a robust Anti-Money Laundering (AML)/Combating Financing of Terrorism policy in the fight against corruption and other violent crimes pervading the region. The Chairman of the commission, Mr Bolaji Owasanoye, made the call while lamenting that illicit financial flow, as well as illegal trade in pangolins, elephant tusks and other wildlife, is estimated to have cost the region billions of dollars. The ICPC boss, while delivering his keynote address at

By Modupe Gbadeyanka A research centre on malaria, tuberculosis and HIV/AIDS constructed in partnership with the Sustainable Development Goals (SDGs) at the Benue State University Teaching Hospital, Makurdi, has been commissioned by Governor Samuel Ortom. During the ceremony, Mr Ortom thanked the Federal Government for choosing Benue State among the North Central states to site the project, assuring that his administration would support the research centre to achieve the purpose it was established. According to the Governor, the centre would provide the information necessary for government to formulate and implement policies that would reduce the diseases prevalent in the state.

Ghana’s May Day is a public holiday honouring workers and their contribution to the country’s development. Central Region marked the occasion by holding a unique programme of celebratory events for the community at Saltpond Victoria Park in the Mfantseman Municipality. Lithium exploration and development company Atlantic Lithium Ltd. was a proud headline sponsor of the event, demonstrating its strong commitment to local community development through employment. Atlantic Lithium is advancing the Ewoyaa Project, a significant lithium spodumene concentrate discovery on track to become Ghana’s first lithium-producing mine. Over 95% of the company’s employees are Ghanaian, many of which are from

By Ahmed Rahma Activities are yet to commence at Nigeria’s land border with the Benin Republic, Seme border, despite the directive of the federal government on Wednesday that it should be reopened immediately. Two days ago, after the weekly Federal Executive Council n(FEC) meeting in Abuja, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said the Seme border and three other land borders closed in August 2019 should be reopened with immediate effect. But reports suggest that the Nigeria Immigration Service (NIS), the Nigeria Customs Service (NCS) and the others are still expecting official directives to reopen

By Dipo Olowookere Yesterday, the Central Bank of Nigeria (CBN) carried out its second primary market auction (PMA) of treasury bills with the exercise recording an oversubscription by 105 percent. Much of the subscriptions came from the 364-day bill, with a total subscription worth N396.85 billion received from the N193 billion offered by the apex bank. However, at the close of the auctioning, the central bank allotted N193 billion worth of the 1-year instrument to investors at 13.79 percent, lower than the 14.3 percent it cleared at the last exercise held on January 3, 2018. Business Post reports that the

By Dipo Olowookere Premier public secondary school in the University of Ibadan, Abadina College, has been rebuilt by the alumni association of the school. This was done in other to create a conducive learning environment for the current generation of students in the school and also to celebrate the 40th anniversary of the institution of learning. The school, which had been in deplorable state in recent years, has been refurbished significantly by various sets of alumni. Some of the projects revamped were a two-storey building; a block of 8 classrooms; installation of a solar powered borehole; renovation of the restrooms